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Gauging Devon Energy’s 3-Year-High Potential in 4Q17

PART:
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Part 4
Gauging Devon Energy’s 3-Year-High Potential in 4Q17 PART 4 OF 6

How Devon Energy Free Cash Flow Looks for 4Q17

Devon Energy’s 4Q17 cash flow estimates

For 4Q17, Wall Street analysts expect Devon Energy (DVN) to report ~51% higher operating cash flow of ~$810 million, compared with its operating cash flow of ~$536 million in 4Q16. On a sequential basis, DVN’s estimated 4Q17 operating cash flow estimate is ~4% higher than its ~$776 million in 3Q17. DVN’s higher estimated 4Q17 operating cash flow can be attributed to the higher crude oil prices in 4Q17.

How Devon Energy Free Cash Flow Looks for 4Q17

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Wall Street analysts are expecting DVN’s 4Q17 capital expenditure to be around ~$790 million. This means that DVN’s 4Q17 free cash flow will likely be positive.

Devon Energy’s 2017 cash flow estimates

For fiscal 2017, Wall Street analysts expect Devon Energy to report operating cash flow of ~$3.1 billion, which would be ~82% higher than its operating cash flow of ~$1.7 billion in 2016.

For fiscal 2017, Wall Street analysts expect Devon Energy’s capital expenditure to come in at $2.9 billion. This means that DVN’s fiscal 2017 free cash flow will likely be positive.

For context, peer ConocoPhillips (COP) reported operating cash flow of ~$7.1 billion in 2017, which was ~61% higher than its operating cash flow of ~$4.4 billion in 2016. Like Devon Energy, ConocoPhillips is increasing its focus on unconventional assets in the US.

In the next part of this series, we’ll take a look at where Devon Energy stands in terms of its earnings estimates for 4Q17 and 2017.

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